Investment Rating - The report maintains a rating of "B" for the new materials sector, indicating a positive outlook for the industry [2]. Core Insights - The new materials sector has shown an upward trend, with the new materials index increasing by 1.37%, although it underperformed compared to the ChiNext index, which rose by 1.81% [2]. - The report highlights the implementation of "anti-involution" policies in the new energy vehicle industry, which are expected to enhance the profitability of companies within the supply chain [4]. - The forecast for new energy vehicle sales in 2025 is projected to reach 16 million units, representing a year-on-year growth of 24.26%, indicating sustained growth in the industry [4]. Market Performance - The new materials sector experienced a weekly increase, with notable performances in various sub-sectors: synthetic biology index up by 4.18%, semiconductor materials up by 0.81%, electronic chemicals up by 1.10%, biodegradable plastics up by 1.74%, industrial gases up by 3.16%, and battery chemicals up by 1.45% [2][16]. - The overall market performance for the week (July 14-18, 2025) showed the CSI 300 index rising by 1.09%, the Shanghai Composite Index by 0.69%, and the ChiNext index by 3.17% [12]. Price Tracking - The report provides a weekly price tracking of various chemical products, including amino acids, biodegradable plastics, industrial gases, and vitamins, indicating stable prices for many products with slight fluctuations [3][11]. - For instance, the price of valine is reported at 14,400 RMB/ton with a weekly increase of 0.35%, while arginine is at 24,500 RMB/ton with a decrease of 2.00% [3]. Investment Recommendations - The report suggests focusing on companies such as Jun Ding Da, Times New Materials, Prit, and Nanjing Julong, which are expected to benefit from the favorable policies and market conditions [5].

Group 1 - The project involves the procurement of public transport vehicles by Fuzhou Kangchi New Bus Co., Ltd. with a budget of 48 million yuan [1] - The project is approved and has met the necessary conditions for public bidding [1] - The bidding process is open and includes one lot for the procurement of vehicles [1] Group 2 - Bidders must provide legal documents including business licenses, tax registration certificates, and identification for representatives [2][3] - Financial reports for the year 2024 must be submitted, including audited financial statements [2] - Bidders must demonstrate technical capabilities and have no significant legal violations in the past three years [3] Group 3 - The bidding documents can be obtained from July 24 to July 31, 2025, via the Fujian Provincial State-owned Assets Procurement Platform [4] - The deadline for submitting bids is August 13, 2025, at 09:30 [4] - The opening of bids will occur on the same day and location as the submission [4] Group 4 - The supervisory department for this bidding project is Fuzhou Kangchi New Bus Co., Ltd. [4] - Contact information for the bidding company includes a phone number for inquiries [5]

Group 1: Market Overview - The European automotive market experienced its most significant decline in 10 months in June, with new car registrations dropping by 5.1% to 1.24 million units, marking the largest monthly decline since August of the previous year [1] - Germany, as the largest automotive market in Europe, was a major contributor to the overall sales decline, with new car registrations plummeting by 14% in June and a cumulative drop of 4.7% for the first half of the year [2] - Italy and France also faced challenges, with June sales decreasing by 17% and 6.7% respectively, reflecting ongoing consumer caution and economic uncertainty [2] Group 2: Electric Vehicle Trends - Despite the overall market downturn, demand for electric vehicles (EVs) continued to rise, albeit at the lowest growth rate of the year at 14% [1][4] - Plug-in hybrid vehicles emerged as a market highlight, with registrations surging by 38% in June, indicating a growing preference for models that combine electric driving with traditional fuel engines [3][4] - The increase in pure electric vehicle sales was supported by new model launches and government incentives in certain countries, although the adoption rate of EVs remains uneven across Europe due to differences in infrastructure and national policies [4] Group 3: Industry Challenges - European automakers are facing multiple challenges, including losing market share and pricing power in the competitive Chinese market, particularly for brands like Volkswagen, BMW, and Mercedes-Benz [6] - Management instability is also a concern, with Stellantis NV appointing a new CEO and Renault searching for a permanent CEO [6] - U.S. tariffs on imported cars and parts pose a risk to billions of euros in earnings for manufacturers with operations in the U.S., although the European Commission has provided a three-year buffer period by delaying stricter carbon emission targets [6]

Core Viewpoint - Great Wall Motors is reportedly leveraging its partnership with FF, a U.S. automotive company founded by Jia Yueting, to facilitate its entry into the U.S. market [1] Group 1: Company Developments - Great Wall Motors has not yet confirmed its collaboration with FF regarding the U.S. market entry despite inquiries from the media [1] - The first model under FF's second brand, FX, named FX Super One, has faced allegations of design plagiarism from Great Wall Motors' Wei brand model, the Gaoshan 9 [1] - The FX Super One's promotional page initially included the term "Gaoshan 9," which was later removed, indicating potential issues with intellectual property [1] Group 2: Industry Implications - The plagiarism allegations suggest a deeper, possibly covert collaboration between Great Wall Motors and FF, raising questions about competitive practices in the automotive industry [1]

Core Viewpoint - Hyundai Motor expects that the U.S. tariffs on South Korean automobiles will decrease from the current rate of 25% [1] Group 1 - The anticipated reduction in tariffs could positively impact Hyundai's competitiveness in the U.S. market [1] - A decrease in tariffs may lead to increased sales and market share for Hyundai in the United States [1] - The current tariff rate of 25% has been a significant barrier for South Korean automakers [1]

又一公司IPO退卷。 近日，深圳证券交易所披露的信息显示，广东正扬传感科技股份有限公司（下称"正扬科技"）及其保荐人华泰联合证券撤回上市申请文件。因此，深圳证券 交易所决定终止对该公司首次公开发行股票并在主板上市的审核。 据贝多财经了解，正扬科技于2023年6月递交招股书，报考在深圳证券交易所主板上市。本次报考上市，正扬科技原计划募资15亿元，将用于搬迁、技改及 信息化升级项目、新能源产品建设项目技术研发中心项目，以及补充流动资金。 而根据正扬科技2024年6月更新的招股书，经公司第一届董事会第十二次会议审议通过，正扬科技对募集资金金额进行调整，调整后拟募资总额变更为12亿 元，其中"补充流动资金"项目由早前的4.5亿元变更为1.5亿元。 与之对应的是，正扬科技曾在2022年进行了两次大额分红。一是，该公司于2022年4月将2010-2017年未分配利润中的1.05亿元分配给股东西方商贸有限公司 （下称"西方商贸"），西方商贸将所享有的分红款项用于投资东莞正昇。 根据介绍，相关款项由正扬有限（即"正扬科技"）直接支付给东莞正昇，东莞正昇将其中1.02亿元用于向正扬有限增资。另外在2022年5月，正扬科技将 2 ...

Core Viewpoint - The lithium mining sector is experiencing a significant rally, driven by rising lithium carbonate prices and strong market sentiment, particularly in the context of the electric vehicle industry and solid-state battery technology advancements [1][2][4][9]. Lithium Market Dynamics - On July 24, A-shares saw a notable increase, with lithium stocks like Tibet Mining and Yongshan Lithium hitting the daily limit, while others like Ganfeng Lithium and Rongjie shares also surged [1][3]. - The main contract for lithium carbonate futures rose by 7.83% to 77,120 yuan/ton, marking a significant rebound in prices, which have increased over 30% since late June [2][4]. - The average price for battery-grade lithium carbonate increased by 1,350 yuan/ton to 70,450 yuan/ton, while industrial-grade lithium carbonate also saw a similar rise [5]. Regulatory Environment - Recent regulatory actions in Yichun City require lithium mining companies to compile resource verification reports by September 30, raising concerns about potential production halts and contributing to price increases [6][7]. - Cangge Mining announced the suspension of its lithium resource development activities following a notice from local authorities, which could further impact supply dynamics [7]. Global Supply Trends - Prices for lithium spodumene from Australia and Zimbabwe have started to rebound after a period of stagnation, with Australian spodumene priced at $730/ton and Zimbabwean lithium priced at $657.5/ton, reflecting weekly increases of 7.7% and 7.3%, respectively [8]. Battery Industry Outlook - The Chinese automotive battery sector is projected to grow significantly, with a 47.3% year-on-year increase in cumulative battery installation from January to June, driven by the rising demand for electric vehicles [9]. - Solid-state battery technology is gaining traction, with companies like CATL and BYD making progress in development, indicating a potential shift in the battery landscape [10][11]. - The overall demand for lithium batteries is expected to maintain a rapid growth trajectory, supported by advancements in solid-state battery technology and increasing production capacities [10][11].

Core Viewpoint - South Korea is considering leveraging investment commitments to the U.S. in exchange for a reduction in automotive tariffs [1] Group 1 - South Korea's strategy involves negotiating with the U.S. government to lower tariffs on automobiles [1] - The potential investment commitments from South Korea could significantly impact the automotive industry dynamics between the two countries [1]

金十数据7月24日讯，随着电动汽车需求增长减速，欧洲6月新车销量创下10个月来最大跌幅，汽车制造 商呼吁当局进一步刺激电动汽车需求。欧洲汽车制造商协会（ACEA）周四公布数据显示，当月新车注 册量下降5.1%至124万辆。尽管纯电动车需求持续增长，但增速已放缓至今年最低水平。ACEA在声明 中警告："消费者显然仍持谨慎态度，更强劲的需求刺激措施仍是加速转型的关键要素。" 欧洲汽车销量创10个月最大跌幅 电动汽车增长放缓 ...

目前，即将推出的这一新政策，在欧盟的租车行业产生了一定影响。从短期看，租车公司面临着成 本的大幅增加。一方面，它们需要提前淘汰现有的燃油车库存，而这些燃油车往往还未达到使用寿命， 这无疑是一笔不小的损失。另一方面，电动车的采购成本普遍比同级别燃油车高出20%-30% ，这使得 租车公司在车辆采购上的支出大幅上升。此外，为了适应电动车的运营，租车公司还需要对充电设备、 运维体系进行大规模升级，这同样需要投入大量资金。 近日，有欧洲媒体报道，欧盟委员会正拟定一项计划，拟从2030年起禁止租车公司和大型企 业为其车队采购非电动汽车。 外媒援引未具名的欧盟消息人士称，按照拟定的方案，从2030年起，像Sixt SE（西克斯特）和 Europcar Mobility Group SA（欧洲汽车移动集团）这类租车公司将只被允许购买电动汽车。一位欧盟官 方人士表示，新规将对60%的新车交易产生影响。据悉，这项法案将于近期公开，并提交欧洲议会进行 审议。欧盟委员会发言人证实正拟定相关计划，但拒绝透露更多细节。 欧盟盯上租车公司 在全球汽车产业电动化转型的浪潮中，欧盟一直扮演着推动者的角色，之前曾立下了2035年新车需 实现1 ...